Brazil betting firms propose retroactive tax amid rate negotiations
Brazilian betting companies are reportedly discussing retroactive tax payments with government leaders in Congress in exchange for limiting a proposed increase in the betting tax rate. The proposal would raise the rate from 12% to 24%; some firms are seeking a cap of 15%, while an unidentified industry executive estimated retroactive collections could reach R$12.5bn. The Finance Ministry did not respond to the report’s request for comment.
The proposed tax trade-off could affect betting firms’ past liabilities and their ongoing tax rate in Brazil.